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Deluge of new homes may end high property prices in Sydney

213,000 new home starts across the country prompts Goldman Sachs Group Inc to warn of a supply glut by 2017

Tue, Sep 22, 2015 - 5:50 AM

Housing and home prices have been the biggest beneficiaries of the Reserve Bank of Australia's 10 interest rate cuts since November 2011 to a record low that made mortgages the cheapest they have been in five decades.

PHOTO: REUTERS

Sydney

A HOME-BUILDING frenzy that is shoring up Australia's economy as the mining boom ends may also be what finally takes the steam out of one of the world's most expensive property markets.

The case in point: Green Square. Nearly 10,000 apartments will be built in one of Sydney'